In the summer of 1996, Congress voted to increase the federal minimum wage from $4.25 to $5.15 per hour. On August 20, 1996, President Clinton signed the legislation, which implemented the increase in two stages: a $0.50 per hour increase on October 1, 1996, followed by a $0.40 increase on September 1, 1997. Supporters argued that the bill would raise the earnings of millions of low-wage worker...